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Apple Pay is off to a fast start, grabbing 1.7% of mobile payment transactions in November, its first full month of operation, ITG Investment Research reported Friday. Just six weeks after its launch, Apple’s (AAPL) e-wallet service is shaping up as a serious threat to market leader PayPal. PayPal, a unit of eBay (EBAY), was the top mobile payment company in terms of dollars spent last month, with 78% market share. But that’s down from 80% in the same month last year, ITG said. Square was second, with 18% market share, up from 15%. Google’s (GOOGL) Google Wallet was third with 4%, but that’s after three years on the market. A year ago, Google Wallet had 5% market share. Apple Pay accounted for 1% of dollars spent using mobile payment services in November. Since its Oct. 20 launch, Apple Pay is showing strong momentum, ITG analyst… Scalper1 News
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